So to start the answer to Cryptocurrency Trading Mentor….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s just a number of ways that that can occur the firstly you can employ an investment portfolio manager they’ll generally charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are produced once again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios also now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row purchase these choices since you think is the right ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included really vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs really important to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling alright so commission charges are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those options that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a charge to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they really giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their charges now the great aspect of though when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other charges the very first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform between the buy cost and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually suggests that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you state alright well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it which is how they make a little bit of money on those spread fees it’s usually exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit cash now the last task is called an
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overnight cost now this is truly important if you’re in fact using cfds yourself as well an overnight cost is when you’re not doing that buy offer transaction in the very same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which implies you’re in fact purchasing the specific property instead of using take advantage of anyhow you will not get hit with these charges but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s state if you enter into the help area this isn’t the over night costs info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that just uses as i said to cfds there are some added fees naturally depending on what you are investing in as well this is on your own so keep that in mind but full fees are entirely within their assistance information all right and we talked about in addition to complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of actually using these copy operates they do not have any extra charges on top of the normal costs that
are there now what you require to bear in mind though is these potentially handled by other people totally or sometimes have actually created portfolios you have actually got a genuine person doing the management you need to ensure you choose the individual that’s right for you much like any type of work this is your financial properties so we definitely require to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a number of various choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash possibly this is a fantastic alternative for you again to evaluate the theories fine you might wish to buy tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it certainly you might have lost out on gains and losses throughout that time of course if you had actually invested your genuine money it permits you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of just indicates am i fine with potentially losing an excellent quantity of this investment or gaining as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose money however that equally implies they’ll lose eventually in their journey obviously individuals do make money as well and i’ve got videos all about how you can make sure you’re one of individuals to actually make money but in this circumstance ensure you research your danger level would you be all right providing your cash to somebody else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really utilize this too really quickly over here you can copy people now it will give you a great deal of options and you can use the system to in fact search for someone that you elegant in fact following so let’s see maybe we want somebody from joined kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has fulfilled that criteria and it does provide you a danger element also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is excellent so in fact for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production companies as that. Cryptocurrency Trading Mentor.
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